Intel shares jump as investments, cost cuts catapult turnaround efforts
Intel beat expectations for September-quarter profit as CEO Lip-Bu Tan’s drastic cost-cutting measures helped the chip maker shore up its finances amid a slew of high-profile investments in the company.
Reuters
Intel shares (INTC-Q) surged nearly 9 per cent in premarket trading on Friday as investors rallied behind CEO Lip-Bu Tan’s aggressive cost-cutting measures that helped the chipmaker surpass quarterly profit estimates and regain stability amid a flurry of high-stakes bets on future growth.
The results mark a turning point for Intel, which has struggled to maintain relevance in the face of fierce competition and manufacturing setbacks.
After a bruising 2024 that saw its first annual loss in nearly four decades, the company is now…
